Client and Employee Satisfaction with Merchant Banking Services: An Empirical Study of Punjab National Bank and Axis Bank Ltd.
Acceptance: 04/01/2026
Published: 25/03/2026
Abstract
This paper examines client and employee perceptions of merchant banking services offered by Punjab National Bank (PNB) and Axis Bank Ltd., with a dual focus on external service quality and internal operational conditions. Using structured questionnaires, data were collected from 353 clients of the merchant banking units and a separate sample of employees engaged in merchant banking operations. Client satisfaction was measured across ten dimensions—service quality, communication and responsiveness, professionalism and expertise, cost and fees, reputation and trust, accessibility and convenience, relationship management, technological capabilities, range of services, and overall satisfaction. Reliability analysis confirmed strong internal consistency, and exploratory factor analysis established the multidimensional structure of satisfaction. Results show generally positive client evaluations, particularly for professionalism, communication, and technological capabilities, but more neutral or mixed perceptions for cost transparency, regulatory trust, and relationship management. Employee responses highlight concerns about workload, regulatory compliance burden, and resource adequacy, despite reasonable awareness of compliance requirements. The study offers practical recommendations for strengthening client-centric service delivery and improving internal work conditions in merchant banking operations.
Keynote: Primary Level, Teachers, Training Programs, Values, Academic Motivation, Education System.
Author Name:
Ashish Kumar Singh
Pages:
563-569
DOI Number:
10.5281/zenodo.20073555
Reference
Bahia, K., & Nantel, J. (2000). A reliable and valid measurement scale for the perceived service quality of banks. International Journal of Bank Marketing.
Dabral, S. (2016). The relationship between employee training and job satisfaction in banking industry. International Journal of Scientific Research, 5(5).
Hitesh, Y., & Tandon, J. K. (2025). Beyond clicks and codes: Decoding customer satisfaction in India’s digital banking era. Electrical & Electronics Engineering and Technology Journal, 15(3).
Jaspal Singh, & Parminderjit Kaur. (2011). Customers’ attitude towards technology based services provided by select Indian banks. International Journal of Commerce and Management.
Kolawole, E. O. (2024). Impact of job satisfaction on employee performance in the Nigerian commercial banking sector (Master’s thesis, National College of Ireland).
Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1988). SERVQUAL: A multiple item scale for measuring consumer perceptions of service quality. Journal of Retailing.
Rakesh, R. (2012). Quality assessment of banking industry using the SERVQUAL model. Research Journal of Management Sciences, 2(2).
Sahney, S., Banwet, D. K., & Karunes, S. (2004). Customer satisfaction in the Indian banking sector: A study with SERVQUAL model. Journal of Services Research.
Shreshtha, D. (2016). The relationship between employee training and job satisfaction in banking industry. International Journal of Scientific Research, 5(5).
Sivathanu, B. (2019). Service quality and its effect on customer satisfaction in digital banking. Journal of Internet Banking and Commerce.
Yadav, H., & Tandon, J. K. (2025). Decoding customer satisfaction in India’s digital banking era. Electrical & Electronics Engineering and Technology Journal, 15(3).
Yadav, R. et al. (2022). A study of service quality in Indian public sector banks using a modified SERVQUAL model. Cogent Business & Management.
Writer Name
Ashish Kumar Singh
Pages
563-569
DOI Numbers
10.5281/zenodo.20073555
Our Social Networks
AD EDUXIAN Publication is dedicated to advancing educational research and providing innovative learning solutions. We offer a wide range of services including publishing, editing, design, and marketing to support authors and researchers in their academic and professional endeavors.
Never miss any important news. Subscribe to our newsletter.